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Financial Reporting Specialist
5 months ago
The Financial Reporting Specialist will be responsible for Statutory and Regulatory financial reporting including the compilation of statutory reporting packs, annual financial statements, VAT and Income Tax returns.
**Key Responsibilities**:
**1. Design, monitor and implement internal financial controls, practices and processes**
- Ensuring timely and accurate compliance with corporate deadlines - CIPC deadlines, statutory deadlines for all taxes, Companies Act deadlines & internal/external reporting deadlines
- Detailed review of monthly Balance Sheet recons and ensure accurate classifications in the B/S in accordance with IFRS, investigating recurring issues and re-reviewing after the issues has been resolved
- Review Fixed Assets (FAR + W&TR) and ensure allowances and disposals are calculated accurately, accounting policies are implemented correctly and that the registers are accurate and in line with Pastel (additions / disposals) and IFRS
- Review of journals (monthly standard journals and ad-hoc journals)
**2. Coordinate annual external auditing process**
- Review the audit files and working papers before submission to the auditors
- Assisting auditors with queries
- Managing the auditors requests with team members
- Preparing Annual financial statements in compliance with IFRS
**3. Financial Reporting**
- Building / maintaining Monthly Reporting Consolidation model with complex account structures for aggregation of companies
- Evaluate account classification and transaction treatment in terms of IFRS
- Support Budgeting / Forecast process - building / maintaining tax models, Depreciation and W&T model for the budget and 3 year plan
- Pepkor Statutory Reporting - Preparation/Inputs of the quarterly reporting packs on group reporting tool (“Finnivo”) & addressing follow-up queries
- Detailed review of intercompany matrix to ensure accurate recording amongst the entities and ensure the correct balances are pulled into the consol
- Responsible for the monthly reporting templates to Pepkor (EBIT templates, management templates, forecasts templates)
- Responsible for the linking and completion of the Pepkor budget and 3 Year Plan templates
**4. Tax and VAT Management**
- Reviewing the VAT calculations and VAT201 Return submissions
- Calculation of VAT apportionment in terms of VAT ruling
- EMP201 review and submission
- Prepare provisional Tax calculations and submission of Provisional Tax returns
- Prepare/Review monthly Income tax calculations as well as deferred tax calculations in accordance with Tax legislation and Accounting Standards.
- Tax balance reconciliations to SARS Statement of Accounts, and follow up with SARS on any variances (especially for annual audit purposes)
- Responsible for all tax type queries - preparation of letters to SARS, reconciliation, supporting documentation accumulation, IT14SD calculations and reconciliations
**5. Financial Risk Management**
- Completing the annually insurance declaration and performing supporting calculations
- Monitoring/updating of the companies’ risk registers on a monthly and bi-annually
**Qualifications**
- CA (SA)
**Experience**
- 2 Years post article experience
**Functional Competencies**
- Software: MS Word, MS Excel, MS Outlook, Pastel
- Financial management and reporting practices
- Experience and in-depth practical knowledge of IFRS
- Taxation law
- Business and Commercial law
- Corporate Governance principles
- Risk management principles and practices
**Behavioural competencies**
- ** **Accountability
- Analyse and solve problems
- Strong analytical skills
- Concern for order, quality and accuracy
- Deadline driven
- Confident self-starter - ability to be decisive and show initiative
**Pepkor Payments and Lending is committed to creating equal employment opportunities.